Business News

S&P, Nasdaq rise as tech stocks gain, oil rebounds

The S&P 500 and the Nasdaq Composite were higher in late morning trading on Friday as technology shares rose and oil prices rebounded from multi-month lows.The Dow Jones Industrial Average was little changed, weighed by a drop in Home Depot (HD.N) and UnitedHealth (UNH.N).Oil prices rose about 1 percent, edging up from 10-month lows touched earlier this week but remained on course for its biggest first-half d...

23 Jun 5:21 PM 0 Read More...

Oil creeps up from 10-month low, down nearly 4 percent on week

NEW YORK Oil futures climbed almost 1 percent on Friday on lift from a falling dollar but remained down for a fifth week in a row and close to a 10-month low as OPEC-led production cuts have failed to substantially reduce a global crude glut.Brent futures LCOc1 were up 40 cents, or 0.9 percent at $45.62 a barrel by 11:52 a.m. EDT (1552 GMT), pushing the front-month out of technically oversold territory for the fi...

23 Jun 5:21 PM 0 Read More...

U.S. new home sales jump, median price surges to record high

WASHINGTON New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum.The Commerce Department said on Friday new home sales increased 2.9 percent to a seasonally adjusted rate of 610,000 units last month. April's sales pace was also revised sharply higher to 593,000 units from 569,000 units.Economists polled by Reuters h...

23 Jun 5:20 PM 0 Read More...

EU promises tough line on U.S., China while pushing for free trade

BRUSSELS German Chancellor Angela Merkel warned U.S. President Donald Trump on Friday that Europe would react in kind if the United States did not play fair in trade, while EU leaders also agreed to consider screening investments by state-owned Chinese firms.The 28 EU leaders signed up to a document saying they and the European Commission should look into ways to increase reciprocity in government procurement and...

23 Jun 5:20 PM 0 Read More...

Stock futures little changed as oil prices edge up

U.S. stock index futures were little changed on Friday as oil prices edged up and ahead of economic data and speeches by Federal Reserve policymakers.Crude oil bounced off this week's 10-month lows, although prices were still set for their worst first-half performance since 1997. [O/R]Sliding oil prices have added to concerns on the inflation outlook, which along with a flattening yield curve, could pose a challe...

23 Jun 12:20 PM 0 Read More...

Toshiba willing to talk with spurned Western Digital about chip unit sale

TOKYO Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate's prized chip unit - an apparent olive branch after it chose another suitor as preferred bidder.The two have been feuding bitterly and Western Digital, which jointly runs Toshiba's main semiconductor plant, has sought a U.S. court injunction to prevent any deal that does not have its ...

23 Jun 12:20 PM 0 Read More...

Ford recalls 15,600 cars in South Africa over fire risk

JOHANNESBURG Ford Motor Co (F.N) is recalling nearly 16,000 Ikon and Figo models in South Africa due to a potential fire risk, it said on Friday. The models were built between 2004 and 2012 in India, Ford said in a statement. "A power steering fluid leak could result in fumes being emitted from the engine compartment," it said. "It may also be pos...

23 Jun 12:20 PM 0 Read More...

VW waives appeal against German dieselgate compensation cases

BERLIN German carmaker Volkswagen (VOWG_p.DE) has agreed to buy back diesel cars equipped with illicit emissions control software after deciding not to appeal a German court ruling backing plaintiffs' calls for compensation.Consumer agencies across Europe have been pushing for compensation for Volkswagen (VW) drivers who bought diesel cars on the strength of their green credentials.Despite VW's admission of wrongd...

23 Jun 12:20 PM 0 Read More...

Asian shares flat, stay on track for a winning week

TOKYO Asian shares flatlined on Friday but remained on track for a weekly gain, while crude oil prices pulled away from this week's 10-month lows.Financial spreadbetter CMC Markets sees European markets opening modestly weaker, with Britain's FTSE 100 .FTSE, Germany's DAX .GDAXI and France's CAC 40 .FCHI all seen shedding points in early trade. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000...

23 Jun 7:19 AM 0 Read More...

Asian shares flat, still on track for winning week

TOKYO Asian shares baulked at the starting gate on Friday but remained on track for a weekly gain, while crude oil prices pulled away from this week's 10-month lows.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was flat in early trade, and up 0.4 percent for the week.Japan's Nikkei stock index .N225 edged down slightly, but was on track to log a rise of 0.8 percent in a week in which it ...

23 Jun 2:15 AM 0 Read More...